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US Treasury Cracking Down On Corporate Tax Inversion Deals

The U.S. Department of the Treasury said Monday it will slash the benefits of corporate tax inversions and hamper efforts of U.S.-based multinational corporations to shift their tax residences to nations with lower taxes, calling it an "unfair practice [that] erodes the U.S. tax base."

  • Indiana Toll Road Operator Files For Ch. 11 With $6B In Debt

    The operator of the $3.8 billion Indiana Toll Road on Monday filed for Chapter 11 protection in Illinois bankruptcy court, saying it intends to sell its assets to pay its creditors the more than $6 billion it owes.

  • Arab Bank Found Liable In Terror Finance Trial

    A New York jury on Monday found Arab Bank PLC liable for knowingly supporting terrorism, a landmark ruling in the first civil trial ever to be brought against a bank under the Anti-Terrorism Act, finding the Jordanian lender provided financial services to the Palestinian Islamist group Hamas.

  • SEC To Hand Out Record $30M Whistleblower Award

    The U.S. Securities and Exchange Commission announced on Monday that it expects to award more than $30 million to a whistleblower who provided key original information that led to a successful enforcement action, setting a new record for payouts received under the agency’s new Dodd-Frank powers.

  • Freescale, MediaTek Cut 11th Hour Deal Amid $23M IP Trial

    Freescale Semiconductor Inc. and MediaTek Inc. have reached an undisclosed global settlement in their ongoing chip-patent infringement war, the companies announced Monday just as a California federal jury was to begin deliberating in MediaTek's $23.4 million trial accusing rival Freescale of copying three patents.

  • PE-Backed Fracking Sand Provider Aims For $1.1B IPO

    Private equity-backed Fairmount Santrol, a provider of sand products used in fracking by gas and oil companies, is seeking an initial public offering that would raise near $1.1 billion if shares sold on the high end, according to a regulatory filing Monday.